Economist wants FG to prioritise diversification of economy

PORT HARCOURT, SEPTEMBER 2, 2016 – An economist, Prof. Okey Onuchukwu, has called on the Federal Government to give priority to the diversifying of the country`s economy.Onuchukwu, Dean of the Social Science Faculty, University of Port Harcourt, made the call when he spoke with newsmen on the nation’s current economic situation in Port Harcourt on Friday.

The professor of economics said that government’s over-reliance on proceeds from oil and gas over the years had left the nation and its citizens lazy and unwilling to tap into other sectors.

“With the current situation, we need to see the Federal Government playing a leading role; we need to see it being proactive in the diversification efforts,’’ he said.

He added that government should take proactive measures to fund public reorientation and provide enabling environment for businesses to strive.

Onuchukwu further said that the country would get it right if the government proactively implemented a national programme to encourage agriculture and manufacturing.

According to him, the current economic situation of the country is most worrisome because there is recession and inflation at the same time.

“Jobs are being lost, money is not in circulation, and prices of goods and services are on the rise every passing day.

“This should move us as a country back to the definition of our economy as a production economy, we must produce if we must survive.’’